央行等三部门重磅发布：取消“个人存取现金超5万元需登记”规定

Core Viewpoint - The People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission jointly released the "Management Measures for Customer Due Diligence and Customer Identity Information and Transaction Record Keeping" on November 28, which will take effect on January 1, 2026, emphasizing a risk-based approach to customer due diligence in financial institutions [2][4]. Group 1: Regulatory Changes - The requirement for individuals to register the source of funds for cash withdrawals exceeding 50,000 yuan has been removed, aligning with the previous draft [3]. - Financial institutions are now required to conduct customer due diligence based on the risk profile of the customer and the nature of the transactions, avoiding measures that do not match the level of money laundering risk [4][5]. Group 2: Risk-Based Approach - The new regulations advocate for a risk-based approach, allowing simplified measures for low-risk customers while enforcing stricter due diligence for high-risk situations [5][6]. - For example, pension withdrawals from social security accounts are considered low-risk, requiring only basic identity verification without additional documentation [6]. - Conversely, unusual transaction patterns, such as a sudden influx of large transfers into a student's account, will trigger enhanced scrutiny and investigation by the bank [7]. Group 3: Implementation and Impact - The management measures aim to balance the need for financial security with the convenience of financial services, promoting a more tailored approach to customer interactions [7].